The jackpot for the MEGA Millions draw on Fri Nov 15, 2024, is projected to be $387 Million, with an option for a cash payout of $181.4 Million. Should you be the lucky winner of the MEGA Millions jackpot, anticipate the IRS to initially withhold 24% of your winnings for taxes, and be prepared that you might need to pay up to an additional 13% in federal taxes at tax time. For Montana residents, the state will deduct 6.75% from your lottery earnings.
| Montana MEGA Millions Jackpot/Cash Option for Fri Nov 15, 2024 |
|---|
| Draw Date | Fri Nov 15, 2024 | | Projected Jackpot | $387,000,000 | | Cash Value | $181,400,000 |
| Lumpsum Option Taxes and Payment |
|---|
| Cash Gross Payment | $181,400,000 | | Federal Tax(24%) | $43,536,000 | | Additional Federal Tax | $23,542,330 | | State Tax(6.75%) | $12,244,500 | | Net Lumpsum Payment | $102,077,170 |
| Annuity Payment in 30 Installations |
|---|
| Yr |
Gross Payment |
Fed/State Taxes |
Net Payment |
| 1 |
$5,824,737 |
$2,115,483
$393,170 |
$3,316,084 |
| 2 |
$6,116,148 |
$2,223,305
$412,840 |
$3,480,003 |
| 3 |
$6,421,878 |
$2,336,425
$433,477 |
$3,651,976 |
| 4 |
$6,743,088 |
$2,455,273
$455,158 |
$3,832,657 |
| 5 |
$7,080,165 |
$2,579,991
$477,911 |
$4,022,263 |
| 6 |
$7,434,270 |
$2,711,010
$501,813 |
$4,221,447 |
| 7 |
$7,805,790 |
$2,848,473
$526,891 |
$4,430,426 |
| 8 |
$8,196,273 |
$2,992,951
$553,248 |
$4,650,074 |
| 9 |
$8,606,106 |
$3,144,590
$580,912 |
$4,880,604 |
| 10 |
$9,036,450 |
$3,303,817
$609,960 |
$5,122,673 |
| 11 |
$9,488,079 |
$3,470,920
$640,445 |
$5,376,714 |
| 12 |
$9,962,541 |
$3,646,471
$672,472 |
$5,643,598 |
| 13 |
$10,460,610 |
$3,830,756
$706,091 |
$5,923,763 |
| 14 |
$10,983,834 |
$4,024,349
$741,409 |
$6,218,076 |
| 15 |
$11,532,987 |
$4,227,536
$778,477 |
$6,526,974 |
| 16 |
$12,109,617 |
$4,440,889
$817,399 |
$6,851,329 |
| 17 |
$12,714,885 |
$4,664,838
$858,255 |
$7,191,792 |
| 18 |
$13,350,726 |
$4,900,099
$901,174 |
$7,549,453 |
| 19 |
$14,018,301 |
$5,147,102
$946,235 |
$7,924,964 |
| 20 |
$14,719,158 |
$5,406,419
$993,543 |
$8,319,196 |
| 21 |
$15,455,232 |
$5,678,766
$1,043,228 |
$8,733,238 |
| 22 |
$16,228,071 |
$5,964,717
$1,095,395 |
$9,167,959 |
| 23 |
$17,039,223 |
$6,264,843
$1,150,148 |
$9,624,232 |
| 24 |
$17,891,397 |
$6,580,147
$1,207,669 |
$10,103,581 |
| 25 |
$18,785,754 |
$6,911,059
$1,268,038 |
$10,606,657 |
| 26 |
$19,725,390 |
$7,258,725
$1,331,464 |
$11,135,201 |
| 27 |
$20,711,466 |
$7,623,573
$1,398,024 |
$11,689,869 |
| 28 |
$21,747,078 |
$8,006,749
$1,467,928 |
$12,272,401 |
| 29 |
$22,834,548 |
$8,409,113
$1,541,332 |
$12,884,103 |
| 30 |
$23,976,198 |
$8,831,524
$1,618,393 |
$13,526,281 |
|
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